Assistive Robotics Market 2021 Strategic Assessment- Kinova, Ekso Bionics Holdings Inc., Cyberdyne Inc., Focal Meditech BV, ReWalk Robotics

The report presents an in-depth assessment of the Assistive Robotics Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Assistive Robotics from 2022 till 2026. The report covers the pre COVID-19 historic data, impact of COVID-19 and post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.

The assistive robotics market is expected to register a CAGR of 21% over the forecast period of (2021 - 2026). 

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Assistive Robotics Market: Kinova, Ekso Bionics Holdings Inc., Cyberdyne Inc., Focal Meditech BV, ReWalk Robotics, Inc., Hocoma, Fourier Intelligence Co. Ltd, F&P Robotics AG, Axosuits SRL, Hyundai Motors and others.

Key Developments:

- Oct 2019 - The scientists from University of Texas at Dallas announced a groundbreaking new approach for improving control of prosthetics with the use of artificial intelligence (AI) at the 2019 IEEE International Symposium on Measurement and Control in Robotics Symposium this month. The research findings show a huge leap forward in the goal of fully end-to-end optimization of electromyography (EMG) controlled prosthetic hands.

Market Overview:

- A rise in the geriatric population drives the Assistive Robotics market. According to United Nations, data from the world population says that by 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). Considering this data, at the age of 65 or above, it shows higher symptoms of mild cognitive impairment (MCI) or early dementia. This says that the demand for assistive robotics will increase in the future.
- The adoption of robot-assisted surgery is driving the Assistive Robotics market. Surgeons who use the robotic system find that for many procedures it enhances precision, flexibility and control during the operation and allows them to better see the site, compared with traditional techniques. According to the Accent-ure survey in the United States in 2018, the random base surveys for more than 2000 respondents say that 46% of those aged 18-34 prefer robot-assisted surgery and the market penetration is high in the United States, where Spinal surgery is a common symptom. This enhances the demand for robot-assisted surgery and will show high growth in coming years globally.

Regional Analysis For Assistive Robotics Market:

North America (The United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

North America holds the significant share due to growing demand from the healthcare sector for rehabilitation and a favorable funding scenario for research on assistive technologies.

In the United States, the government agency is taking the initiative to fund the Assistive Robotics market. For instance, the National Science Foundation is investing in the development of service robots, particularly in eldercare robotics projects that help to increase mobility in elder patients.

Key Market Trends
Socially Assistive Robots (SAR) Holds the Significant Share in the Market
- Physical activities have tremendous benefits to older adults. A report from the World Health Organization has mentioned that lack of physical activity contributed to around 3.2 million premature deaths annually worldwide. With the rise in the population of older adults, which is expected to triple by 2050, this SAR will aim to improve the quality of life for a significant proportion of the population for household segment.
- Socially assistive robots, if properly utilized, would assist older people in their daily routines and increase their quality of life by performing some much-needed functions such as reminders to take meals and medication, offer suggestions for activities and encourage social interactions.
- The University of Pittsburgh & Carnegie Mellon University developed the Pearl nurse robot. It is a personal and social robot that helps the elderly go about their daily routines. Other robotic technologies used to assist older adults as well as the disabled are exoskeletons, electric wheelchairs, and other similar devices.

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Influence of the Assistive Robotics Market Report:
-Comprehensive assessment of all opportunities and risks in the Assistive Robotics market.
-The detailed study of business strategies for the growth of the Assistive Robotics market-leading players.
-Conclusive study about the growth plot of the Assistive Robotics market for forthcoming years.
-In-depth understanding of Assistive Robotics market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Assistive Robotics market.

What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Assistive Robotics Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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